OSP says MIIF and fuel-diversion corruption cases near completion
The Office of the Special Prosecutor (OSP) has announced that two of its most significant corruption investigations, the Minerals Income Investment Fund (MIIF) gold-trading programme and the alleged diversion of petroleum products by more than 30 Oil Marketing Companies (OMCs) are now at advanced stages.
In a statement issued on its official Facebook page on Saturday, November 22, the OSP said it is pushing forward with several high-stakes probes and expects public interest to intensify as the cases move closer to possible prosecution. The Office stressed that all actions taken remain grounded in due process, transparency and the protection of Ghana’s resources.
The update revealed that the MIIF investigation has already resulted in major statutory actions, including the freezing of bank accounts, seizure of assets and movement restrictions on individuals connected to the case.
The probe centres on a gold-trading arrangement between MIIF and Goldridge Company Limited, introduced to support the government’s gold-for-oil and gold-for-reserves initiatives. There are indications that the state may have released about US$94 million for gold purchases that were not fully supplied, triggering the corruption investigation earlier this year.
In September 2025, the OSP confirmed that the Chief Executive Officer of Goldridge Company Limited, Nana Yaw Duodu, popularly known as Dr Sledge, had been invited for questioning and subsequently detained after failing to meet bail conditions.
On October 29, OSP officers raided his Trassaco residence and the East Legon offices of Goldridge Company Limited as part of the ongoing MIIF probe.
MIIF, established under Act 978 of 2018 to manage state mineral royalties and investments, introduced the gold-trade initiative as a support mechanism for government gold policies through private-sector collaboration.
The OSP’s second major case involves what it describes as a large-scale fuel-diversion network. More than 30 OMCs are under investigation for allegedly diverting marine gas oil, premix fuel and diesel — a scheme the Office says has deprived the state of millions of cedis in revenue. Efforts are underway to recover the lost funds.
The statement added that beyond these two maturing cases, other investigations — including matters involving the National Petroleum Authority and Strategic Mobilisation Ghana Limited — are already before the courts.